Geode Capital Management LLC Acquires 6,238 Shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI)

Geode Capital Management LLC raised its stake in shares of Community Trust Bancorp, Inc. (NASDAQ:CTBI) by 1.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 373,158 shares of the financial services provider’s stock after acquiring an additional 6,238 shares during the quarter. Geode Capital Management LLC owned approximately 2.07% of Community Trust Bancorp worth $18,534,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in Community Trust Bancorp in the third quarter valued at approximately $63,000. Coastline Trust Co purchased a new stake in shares of Community Trust Bancorp during the 3rd quarter valued at $79,000. CWM LLC boosted its position in shares of Community Trust Bancorp by 12.2% in the 3rd quarter. CWM LLC now owns 2,918 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 317 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Community Trust Bancorp in the 3rd quarter worth $209,000. Finally, BNP Paribas Financial Markets grew its stake in Community Trust Bancorp by 33.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,285 shares of the financial services provider’s stock worth $213,000 after buying an additional 1,079 shares during the last quarter. 60.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CTBI shares. Raymond James raised Community Trust Bancorp from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $64.00 target price on shares of Community Trust Bancorp in a research note on Friday, November 8th.

Community Trust Bancorp Stock Performance

Shares of CTBI opened at $53.57 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a 50-day moving average of $56.46 and a two-hundred day moving average of $50.35. The stock has a market cap of $967.37 million, a P/E ratio of 12.18 and a beta of 0.66. Community Trust Bancorp, Inc. has a one year low of $38.44 and a one year high of $61.67.

Community Trust Bancorp (NASDAQ:CTBI) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.15 by $0.08. Community Trust Bancorp had a return on equity of 10.93% and a net margin of 21.64%. The firm had revenue of $95.38 million during the quarter, compared to analysts’ expectations of $62.00 million. As a group, research analysts predict that Community Trust Bancorp, Inc. will post 4.56 EPS for the current year.

Community Trust Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Sunday, December 15th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, December 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.51%. Community Trust Bancorp’s payout ratio is currently 42.73%.

Community Trust Bancorp Company Profile

Community Trust Bancorp, Inc operates as the bank holding company for Community Trust Bank, Inc that engages in the provision of commercial and personal banking, and trust and wealth management services to small and mid-sized communities in eastern, northeastern, central, and south-central Kentucky, as well as southern West Virginia, and northeastern Tennessee.